Global-E Online (NASDAQ:GLBE) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Global-E Online (NASDAQ:GLBE) from an equal weight rating to an overweight rating in a report released on Wednesday, MarketBeat.com reports. They currently have $46.00 price objective on the stock, down from their previous price objective of $55.00.

GLBE has been the subject of several other reports. The Goldman Sachs Group raised their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company cut their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. UBS Group decreased their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Benchmark cut their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Piper Sandler upped their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $58.33.

Global-E Online Trading Down 2.7 %

Shares of GLBE stock opened at $37.24 on Wednesday. The firm’s fifty day moving average price is $49.44 and its two-hundred day moving average price is $46.61. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The firm has a market capitalization of $6.12 billion, a P/E ratio of -84.64, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. Global-E Online’s revenue was up 41.8% on a year-over-year basis. As a group, equities research analysts forecast that Global-E Online will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Global-E Online

Institutional investors and hedge funds have recently modified their holdings of the business. TimesSquare Capital Management LLC boosted its holdings in Global-E Online by 6.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock valued at $42,043,000 after purchasing an additional 45,739 shares during the period. Fred Alger Management LLC bought a new stake in shares of Global-E Online in the third quarter valued at approximately $53,493,000. JPMorgan Chase & Co. grew its position in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after buying an additional 533,675 shares in the last quarter. Meitav Investment House Ltd. acquired a new stake in Global-E Online during the fourth quarter worth approximately $454,000. Finally, Amundi increased its stake in Global-E Online by 126.9% during the 4th quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after acquiring an additional 440,953 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Company Profile

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.